WEAKNESS IN WALL STREET.

Gisborne Times, Volume XXV, Issue 2219, 24 October 1907, Page 3

WEAKNESS IN WALL STREET.

United Press Association—Copyright (Received 9.55 p.m., Oct. 23.) NEAV YORK, Oct. 23.

A sudden and persistent run precipitated tho temporary suspension of the Knickerbocker Trust, causing excitement in AVall Street. Heavy selling in all departments led to another slump in shares. Acute weakness is experienced in the Pittsburg and Philadelphia Exchanges in sympathy. New York Stock Exchange members dealing mainly in Delaware and Hudson railroad stock failed for six million dollars, but issued a statement predicting the payment of all liabilities and the speedy resumption of business. AI. Cortelyou, Secretary of the Treasury, deposited six million dollars with the national banks, New York. It was reported that if necessary lie well deposit a further fifteen million. _ „„ , (Received 10.12 p.m., Oct. 23.) President Roosevelt, at Nashville, declared his legislative executive policies represented the effort to punish successful dishonesty. Ho doubted it the policies had any. material effect 111 causing the slump in the stock markets, but if it had that would not alter in the slightest liis determination, for tho remainder of his. term of office’, to persevere unswervingly. All ho had done was to unearth wrong-doing. He added: All 1 did was to turn on the light. It is impossible to excise cancer without tho patient feeling for a few days sicker than he felt beforeM